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Bitcoin: bears continue to dip

2022-06-21
1545
Fundamental analysis:

Bitcoin remained volatile around 20384. The ETF supplier ProShares plans to publicly launch the first short bitcoin strategy ETF in the United States on June 21: ProShares short bitcoin strategy ETF (NYSE Code: Biti).




Bitcoin btcusd - 4-hour K-line diagram display:




Technical analysis:


According to the 4-hour chart, the short power continued to move downward in the middle and lower tracks of the brin belt indicator channel, and there was no sign of stopping the short-term decline. MACD indicator was at the low level in the short area and maintained the weak shock and upward movement, and RSI indicator was at the low level in the short area and maintained the weak consolidation;


Long short turning point: 21053


Pressing position: 21888, 22876


Support position: 19740, 19048


Trading strategy: 21053 down bearish, target 19740, 19048


Alternative strategy: bullish above 21053, target 21888, 22876

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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